:max_bytes(150000):strip_icc()/GettyImages-2128596170-c2c21b52df674731b80179ca28b5be90.jpg "Bridgewater Associates Almost Quintupled Its Nvidia Stake in Q1")
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Key Takeaways
- Asset management company Bridgewater Associates nearly quintupled its position in AI hardware leader Nvidia in the first quarter, per the firm’s 13-F.
- Bridgewater, founded by billionaire Ray Dalio, ended the first quarter with 636.6 million shares of Nvidia worth about $582 billion as of Tuesday afternoon’s share price.
- The firm also invested in other AI hardware leaders, including Advanced Micro Devices and KLA.
- Bridgewater’s other major purchases in the first quarter were mostly in the tech space and include 525 million Class A shares of Alphabet, nearly 316 million shares of Apple, and 247 million shares of Meta Platforms.
Ray Dalio‘s Bridgewater Associates added more than 503 million shares of Nvidia (NVDA) during the first quarter of the year in tandem with stake increases in several other tech giants, according to the firm’s 13-F form filed Tuesday.
Big Investments in AI Leaders
Dalio’s asset management firm increased its Nvidia position to 636.6 million shares as of the end of the first quarter, up from 133 million shares at the end of 2023. As of Tuesday afternoon, if Bridgewater’s positioned is unchanged since the end of the first quarter, it is worth roughly $582 billion. Nvidia shares have climbed 85% year-to-date.
Nvidia is a major player in AI because of the popularity of its hardware products, and AI is one of the biggest investment trends of the year. Dalio’s firm also made big bets early in the year on other companies related to AI.
For example, Bridgewater entered a position in Advanced Micro Devices (AMD), another leading chipmaker, totaling 122.6 million shares as of the end of the quarter. It also significantly boosted its position in semiconductor and nanotechnology company KLA (KLAC), adding about 70 million shares for a total of 81.7 million by the end of March.
Focus on Tech Titans
Dalio made big bets on other tech firms that are poised to benefit from AI integration without providing AI hardware. Of these, the most notable shift was in Alphabet (GOOGL). Bridgewater bought almost 525 million Class A shares of Google’s parent company during the first quarter, bringing its position to 810.3 million shares by the end of that period. If that position remains intact as of now, it is worth about $139 billion as of this writing.
Bridgewater also added about 316 million shares of Apple (AAPL), 247 million shares of Meta Platforms (META), and 170 million shares of Microsoft (MSFT) in the first months of 2024. After those purchases, Bridgewater’s positions in Apple, Meta, and Microsoft would be worth approximately $59 billion, $227 billion, and $101 billion, respectively, if they remain unchanged as of Tuesday’s close.
Dalio also entered a 189-million-share position in Amazon.com (AMZN) in the first quarter.
Sales of Cisco, Coca-Cola, PDD
The first quarter wasn’t exclusively a buying spree for Bridgewater, as the firm also trimmed many of its existing positions and exited several others. Among the largest sell-offs in the first quarter were about 91 million shares of Cisco Systems (CSCO), roughly 87 million shares of Coca-Cola (KO), and 177 million shares of PDD Holdings (PDD).